Less is More
Fewer products can net you more sales. While this idea may sound counterintuitive, it makes sense as you consider your current competition.
You aren’t competing with the shop on the other side of town who has every size spoke or obscure Campagnolo replacement part anymore - you are competing with every ecommerce website around the globe.
Increasingly, your customers will choose to shop with you because you make shopping easy, and because you provide them with a level of service and knowledge that they cannot get online.
This Is Great News For You
As an omnichannel business owner and manager, this shift in philosophy can make your life easier and your business more sustainable. Wouldn’t you love to have fewer SKUs in your brick and mortar locations, to turn your inventory faster, and to increase your profitability overall?
With an influx of online sellers who have stockpiles of unusual, low turning inventory, you have an opportunity to position your bike shop as the place to go for a carefully curated, high quality selection of bicycles and related products. It’s no longer necessary to stock every model in every color, or to be the RadioShack of the bike industry.
Present your customers with good, better, best options in each category. You’ll save your sales associates time presenting the products. You’ll reduce your customer’s likelihood of experiencing decision fatigue. And you’ll almost certainly close more sales than if you attempt to compete on breadth of selection in today’s retail space.
Embrace the changing retail landscape. Use your website to showcase the vast array of products that are available in every color and size while keeping your inventory on hand low and your product selection relevant. As an omnichannel retailer, you can offer your customers the best of both worlds.